August 20th, 2020 8:35 PM 0 COMMENTS

AGR Dues: Government Can’t Backtrack After Allowing Spectrum as Security Says Ranjit Kumar

So far in the AGR dues case, Reliance Jio has made it clear that it has paid all the AGR dues which includes the spectrum usage charges as well. It is interesting to see that the court’s hearing has shifted from the primary concern of AGR dues to whether or not spectrum can be sold by a company under IBC. In yesterday’s hearing, SC had posed a question that when... Read More

August 17th, 2020 8:44 PM 22 COMMENTS

AGR Dues: DoT and MCA Differ in Views of Spectrum as an Asset

The Supreme Court on Friday had postponed the hearing of the AGR dues case of telcos to today. One thing that has become clear from all the past hearings is that there is no way that Bharti Airtel and Vodafone Idea Limited’s (VIL) request of reassessment of AGR dues is going to be entertained by the apex court. SC will only decide on the period at which the dues needs... Read More

August 14th, 2020 7:39 PM 66 COMMENTS

Supreme Court Asks Why Jio Shouldn’t Be Paying AGR Dues for Using Spectrum of RCom

AGR (Adjusted Gross Revenue) dues have become a major pain for the telecom industry of India. It has affected not only the operators that are actively providing telecom services, but also the operators which have gone insolvent. Back on October 24, 2019, the Supreme Court had ruled in favour of the Department of Telecommunications (DoT) and held its definition of AGR dues above what telcos were demanding. Telecom companies in... Read More

July 21st, 2020 12:37 PM 1 COMMENTS

Supreme Court Reserves Order on Granting Additional Time for Telcos to Pay AGR Dues

The Supreme Court of India on Monday reserved its order on the petitions filed by the telecom players in India seeking additional time for the payment of the statutory dues. The apex court in October, 2019, said that the statutory dues need to be calculated by adding the non-telecom revenues in Adjusted Gross Revenues (AGR). The judgement in October ended a 14 year battle between the operators and the government... Read More

July 20th, 2020 2:22 PM 10 COMMENTS

Vodafone Idea Pays Additional Rs 1000 Crore Towards AGR Dues

Vodafone Idea said that the company on Friday had paid a further amount of Rs 1000 crore to the Department of Telecommunication (DoT) as part of its Adjusted Gross Revenue (AGR) dues. The company in its exchange filing on Saturday said that it had earlier paid a total of Rs 6854 crore in three tranches. Following the payment on Friday, Vodafone Idea highlighted that the company has now paid an... Read More

July 15th, 2020 8:01 PM 17 COMMENTS

Telcos Must Pay Partial AGR Dues Upfront: DoT

The Department of Telecommunications (DoT) is asking telecom operators Bharti Airtel and Vodafone Idea to make some payment towards AGR dues before being allowed to defer the rest of the dues over 20 years. As reported by ET Telecom, telco giants Bharti Airtel and Vodafone Idea have already stated that they cannot pay statutory dues immediately apart from what they have already paid. Both the telcos and Department of Telecommunications... Read More

June 19th, 2020 5:21 PM 1 COMMENTS

Vodafone Idea Will Face Multiple Challenges in Clearing AGR Dues: Credit Suisse

Telecom Operator Vodafone Idea is facing massive financial burden because of AGR dues. Currently, Vodafone Idea has just paid 13% of the total outstanding AGR dues. As per the latest report by Credit Suisse, Vodafone Idea will face difficulties in clearing more than Rs 50 billion incremental upfront dues in the AGR dues. The report further states that once Vodafone Idea clears Rs 69 billion of AGR dues, it is... Read More

June 18th, 2020 1:28 PM 10 COMMENTS

Airtel, Vodafone Idea Refuse to Provide Bank Guarantees Against AGR Dues; SC Asks Them to Provide Balance Sheets

The Supreme Court has ordered the telcos like Bharti Airtel and Vodafone to file their audited balance sheets of the past 10 years after telcos refused to provide additional bank guarantees and security against AGR-related payments. The Court said that the next hearing will take place in the third week of July. The Court has also directed these telcos to come up with payment proposals and asked the Department of... Read More

June 12th, 2020 2:00 PM 0 COMMENTS

Bharti Airtel and Vodafone Idea Might Tender Spectrum and Tangible Assets as Security for AGR Dues

Telecom operators Bharti Airtel and Vodafone Idea might tender their spectrum and tangible assets and tax refunds as security to the Supreme Court. As Supreme Court earlier directed all the telcos to file an affidavit till June 18 regarding payment of AGR dues, telecom operators are considering that spectrum and tangible assets will be viable as securities. As reported by ET Telecom, telecom operators have sufficient assets which will be... Read More

June 11th, 2020 8:37 PM 16 COMMENTS

Supreme Court Directs Telcos to Submit Affidavit Regarding Payment of AGR Dues Till June 18

Supreme Court of India had postponed the hearing of AGR issue till June 18. The apex body asked all the telco giants such as Vodafone Idea, Bharti Airtel and Reliance Jio to submit an affidavit that will reveal the blueprint in which telcos will clear off their AGR dues. However, Vodafone Idea who is the most affected telco addressed the Supreme Court and stated that it could not file an... Read More

April 20th, 2020 8:09 PM 2 COMMENTS

Vodafone Idea Seeks Time from Government to Pay Quarterly AGR Dues

Vodafone Idea has urged the government for extra time to clear its outstanding quarterly AGR dues, a new ET Telecom report says. Since the entire nation is facing the wrath of COVID-19. The telecom industry is also facing financial distress. Vodafone Idea being one of the major operators in India has not cleared the bank guarantees to safeguard its spectrum payment. To ensure that bank guarantees are not invoked, and... Read More

March 25th, 2020 5:22 PM 7 COMMENTS

Bharti Airtel and Vodafone Idea Get Huge Relief from AGR Dues Amidst Coronavirus Outbreak

The global spread of Covid-19 has created instability in various industries around the world, including the Indian telecom sector. Indian Government has recently declared 21 days lockdown to fight back the deadly virus. Telecom Industry which is worst hit by Covid-19 is also facing operational issues as millions of people are using networks at the same time. According to an ET Telecom report, the Department of Telecommunications (DoT) has subsided... Read More

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